MHProNews.com has learned that Wells Fargo Multifamily Capital’s Tony Petosa and Nick Bertino have reportedly closed 50 million in loans on 6 manufactured home community properties in the last 90 days. The six properties are located in four states across the country and total 1,661 sites. These included, Club Marina, a 171-site MHC located in Bay Point, California, with a loan amount of $9,200,000. Pleasant Valley, a 300-site MHC located in Las Vegas, Nevada, with a loan amount of $7,100,000. Orange Village, a 150-site MHC located in Orange, California, with a loan amount of $7,500,000. “With our Fannie Mae, conduit, and balance sheet lending products, we offer a range of dependable financing programs. In recent years we have shown our commitment to commercial real estate and our clients by being a dependable lender that can execute during volatile periods in the financial markets” said Nick Petosa. Wells Fargo has originated nearly $5 billion in manufactured home community loans since 2004. Wells Fargo has $1.3 trillion in assets and some 275,000 team members across their 80+ businesses.
(Editor’s note: MHProNews internal site statistics reveals that Wells Fargo employees are among the heavier users of our online trade media platform.)
(Photo credit: Tony Petosa (r) Nick Bertino (l) 123people and Wells Fargo Logo)